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	Legal - Termination Settlement Agreement #2
	Rating:		Price: $1.99
	At A Glance
	This Word document is a template to use when providing additional compensation to terminating employees in exchange for their agreement to abide by certain terms and conditions. In addition, this template provides information to capture when, following termination, the former employee becomes an independent contractor.
	Background
	Developing a legally-defensible settlement agreement is critical when terminating an employee and providing them with additional compensation. This tool clearly states what the employee is entitled to by virtue of his/her employment or employment contract, plus states the additional remuneration he/she will receive in exchange for adhering to some expressly stated conditions. This tool should be used when requiring the terminated employee to provide consulting expertise for a defined period of time. Note: Be sure to have the former employee sign an Independent Contractor Agreement following his/her termination if consulting services are mutually desired.
	Benefits
	Using this tool, you will protect the company from potential lawsuits from terminating employees by clearly stating all the terms and conditions surrounding any settlement.
	Time ROI
	It takes on average 15 hours to prepare a legally-defensible settlement and consulting agreement. By using MyWorkTools.com, you will save approximately 13 hours since all you have to do is input specific employee, stock, and consulting information.

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